Home/Tag: millionaire surtax

Nobody Here But Us Unicorns

Last week, National Public Radio ran a story suggesting that while business groups are focused on the pending rate hikes and the impact they will have on jobs and investment, actual business owners are less concerned. According to NPR:

We wanted to talk to business owners who would be affected. So, NPR requested help from numerous Republican congressional offices, including House and Senate leadership. They were unable to produce a single millionaire job creator for us to interview.


So we went to the business groups that have been lobbying against the surtax. Again, three days after putting in a request, none of

(Read More)

2019-02-01T20:24:44+00:00December 13, 2011|

Yet Another “Millionaire Surtax” Introduced in the Senate

Yesterday, Senators Collins (R-ME) and McCaskill (D-MO) introduced legislation to extend the payroll tax holiday, among other things, and to pay for it with a mixture of tax hikes. Primary among the tax hikes is yet another modified version of the millionaire’s surtax. By our count, this is the fifth surtax considered in the Senate in the last three months.

In this case, the surtax is two percent and would apply to incomes exceeding $1 million, excluding small business income where the taxpayer works at the business. The goal of this exception is to avoid the charge that the surtax would

(Read More)

2019-02-01T20:24:44+00:00December 8, 2011|